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19-01-23
ACWA Power cooperates with Austrian company Verbund to improve green hydrogen
(MENAFN) Saudi Arabia’s ACWA Power has inked a memorandum of understanding with Austrian electricity company Verbund to possibly improve green hydrogen ventures in the Middle East.
Verbund is going to utilize the hydrogen outputted by the area’s ventures as a renewable energy source for Central Europe, primarily Austria, as per the MOU.
“Today’s announcement is another illustration of our enduring commitment to bring ingenuity and entrepreneurship together to ensure power is generated reliably, responsibly, and sustainably at the global level,” ACWA Power Chairman Mohammad Abunayyan stated in a press announcement.
The organization among Verbund and the Saudi developer, investor, and operator took place throughout the presently occurring Abu Dhabi Sustainability Week.
Abunayyan also stated that “In collaboration with Verbund, we are excited to jointly explore the possibilities to deliver green hydrogen to Central Europe with a primary focus on Austria on a consistent basis.”
He mentioned that the action is not going to only back countries in their energy transition attempts, but also drive social improvement, industrial advancement, as well as financial expansion throughout the area.
MENAFN19012023000045014228ID1105449518
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